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, cities in this country can be saved. earlier this month, detroit became the latest and greatest american city to file for bankruptcy. an $80 billion federal bailout saved the motor park of motor city. the auto industry from collapsing. right now in 2013 there will be no bailout for detroit itself. michigan governor rick snyder is not asking for one. and the white house is not offering one. it was really surprising republican members of the senate started trying to block a bailout of detroit. this thing that does not exist, no bailout, not only for detroit, but for any american city. no federal funding of any kind for any struggling city anywhere ever. unless they're hit by a natural disaster. because, you know, hurricanes, they have a tendency to hit the sponsor of another measure's home state with regular frequency. the first no bailout no money of any kind amendment did not passion, it was defeated on a close party line vote. its sponsor tweeted, if you weren't worried about the federal government bailing out municipalities like detroit now, you should be. be afraid of this thing that
of detroit starts the process of putting its priceless museum artwork up for auction. you wouldn't believe how much it could be worth. all those stories and much more coming up on the "kudlow report" right now. good evening, i'm larry kudlow. this is the "kudlow report." first up tonight, breaking news, jeff bezos paying $250 million for "the washington post" newspaper. a few days ago boston red sox owner john henry bought the "boston globe" for the bargain basement price of only $70 million. what is going on here? why will these foes succeed while others have failed. joining us is our own julia boorstin. why will they succeed where others have failed in. >> i think the question is how do you define success? one thing jeff bezos makes very clear in his letter about this and it was also in the press release is that he's not investing this just as a financial endeavor but he sees this as supporting journalism. he says "i understand the critical role the post plays in washington, d.c. and our nation and the post values will not change." he talks about the importance of the fact that the inter
. >>> this morning, the bankrupt city of detroit is a step closer to gnaw mayor. but new york city's mayor michael bloomberg says detroit's financial disaster should serve as a warning to all u.s. cities. >> the reality is we may be a long ways from detroit, but only a short ways from relapsing into decline if we allow health care and pension benefits to crowd out the investments that new york city -- makes new york city a place where people want to live, work, study, and visit. >> in detroit, wayne county sheriff polian and ceo mike dugan emerged as the top vote getters in yesterday's mayoral showdown. that means detroit where 82% of the population is now black would elect its first white mayor in four decades and they scare off in november for a job that doesn't have any significant power since a state emergency manager controls the purse strings there. let's bring in thomas sugrew who is a detroit native and author of "the origins of urban crisis race and inequality in post war detroit." >> good morning. >> detroit did crushed by skyrocketing pension and health benefits and why mayor bloomering
to them now one last time. starting with salmon that bee in detroit, sam, any updates? i know things are pretty grim over there. >> oh, john t is worse than you could possibly imagine. >> right. >> a once proud american institution brought to its knees by gross mismanagement and incompetent leadership. you know, you wonder if it will ever again be the icon it was once. >> but sam, on the other hand, detroit is resilient, will will bounce back, shortly opinions detroit, no, i'm talking about the daily show. >> come on. >> it took decades to bring detroit to its knees but you destroyed the daily show in like three months. >> whoa, whoa, whoa. go a little easy. >> you're faster than ebola. what? >> i would say that i'm speaking truth to power but you have to power and whatever power you thought you had ends in about six minutes which is less time than it takes to make a hot pocket, but enough time i'm sure for you to [bleep] the show even further until it begs to be put out of its missery. >> thank you, samantha. let's go to jessica williams, jess, where exactly are you. >> i'm in front
. >>> shocking new statistics on drinking and walking. >>> detroit voters go to the polls. >>> and will the amazon entrepreneur change the face of journalism? "early today" back in two. >> announcer: brought to you by the makers of centrum men and women. have you taken the most complete multivitamin today? >>> welcome back. the trial of major nadal hassan is set to begin. it's been nearly four years since the ft. hood military base shooting. 13 people were killed and over 30 wounded in 2009. many of the wounded taking the stand will have to go face to face with hassan. he's opted to represent himself in that trial. >>> an amber alert was put out for two children. the children's mother was found in a burned out house. the identity and manner of death remain undetermined. hannah anderson, 16 and ethan anderson age 8 are believed to have been taken by this man. he was last seen driving blue four-door nissan. >>> a 1500-acre brush fire is roaring through cleveland national forest in california. >>> chevron usa has been convicted of labor code violations in connection with a 20
for tonight or ever. >> another candidate john liu is posing that new york legalize marijuana. in detroit billboards paid by the city urged citizens to vote on september 2nd. but voting day is actually in october. candidates with more twitter mentions than their opponent won 404 of the 406 elections. it didn't matter if the twitter mentions were positive or negative. >>> actress jennifer garner seems optimistic about her husband ben affleck's future in politics. she tells "people" magazine that she wouldn't be surprise to see him go into politics. >>> first lady michelle obama is releasing a rap cd. michelle obama unfortunately does not sing on the album. that's your morning's dish of scrambled politics. >>> for the weather i'm joined by bill karins. >>> this morning, hope windows are open in many areas of the country. the 24-hour temperature change has made its way to the east coast. columbus is 16 degrees cooler than this time yesterday. d.c. is about 13 degrees cooler. it's 51 degrees right now in detroit, i mean, that's cool, that's jacket weather. same for buffalo and columbus, that
hits in mid-air. now what is happening, he's in detroit in training camp doing really well. he hit 11 of 11 so far in scrimmages. they are looking at him very closely. >> i have to ask a stupid question. the distance he's kicking, 50 yards how does that compare to an nfl kicker? >> he hit 60-yarders. >> is that good? >> almost every nfl kicker can make it from the 50s. it's how consistently. >> six 50s. he hit -- the current detroit punter has hid a 63 last year. so that's the question whether the existing punter can actually do better. >> we'll see how he goes. >> but he's doing well. >> good for him. >> this is clearly a panda bear story. >> this is about as deep as i can get and intense. >> let see what it looks like to be a polar bear. >> a polar bear not a panda bear. >> they put a pro camera on him. >> i want to know how who is brave enough to strap a camera on the polar bear. >> the whole point is they want to test this. eventually they want to put this on a real polar bear in the wild so they can study the habitat. >> got to run. "way too early" starts right now. >>> our natio
.m. than most people do all day. you should move to some [ bleep ] abandoned house in detroit. if a bunch of these white slobs who have creepy ass -- would move there with you, you can have a creepy ass neighborhood. detroit a little piece of turd world africa right here in america. >> wow. that's a little haaseist. >> was that -- was that a little racist? >> that was for me. >> just for you? >> stephanie: just for me. >> it's a tie. >> stephanie: you know what i think? because sean hannity mentioned me last week. >> did he. >> stephanie: i always get that. >> i saw that tweet. yeah, yeah. okay. all right. >> stephanie: speaking of right-wing world. >> eric boehlert from media matters for america doing the lord's work. ♪ hurts so good ♪ come on, baby ♪ eric boehlert hurts so good. >> stephanie: let's dive into the right-wing world. >> i don't know what that means. ♪ hurts so good >> stephanie: you know what? you tules ton a lot of -- you tulessen to a lot of right wing media. benghazi fever, another friday in right wing radio. >> we talked about the return of the clinton crazies,
. in detroit -- what a show. >> it's where capitalism, pop culture, first amendment, politics all come together. sometimes there's a moment of clarity. that was that moment. >> i'm holding my script close to my face because i'm legal live blind and my contacts don't work right now. in detroit a police commander has mistakenly released a document -- >> oh, come on! come on! look at this. >> i'm going to the merger. go ahead. >> the police department has mistakenly released a document containing the bra size of several female officers in an of the to say who has received bullet-proof vests. come on. come on! >> now back to you. >> hello, san diego. >> hello, san diego. >> all right, we're going to -- >> i have to ask the question because i'm a journalist. >> are you? >> it's a vest. female vest. >> i regret all of this. >> i would like to go back to 6 a.m. east coast and rerack the tape. >> we also want to talk about possible fed choices and the obama care story. >> industry officials are surprised of the move that would prevent the creation of the world's largest airline. nbc's tom costello repo
party stands for. >> take him to detroit. >> no! not detroit! >> i love you, detroit. >> massive unions, massive pensions. >> yes, lavish pensions. on average $19,000 a year which detroit now says they will pay 10 cents on the dollar. >> when union membership goes down, so do middle class wages. >> then the unions came in. then the democratic machine came in. then the drugs came in. >> every politician who puts their hand on the bible and takes the oath of office has a duty to this city and to manufacturing in this country. >> it yields
like babe ruth? >> voters in detroit head to the polls today to whittle down the little of mayoral candidates. they caution ruls may not be known for weeks because of several write-in campaigns. >>> chelsea clinton is leaving the door open for future political ambitions. while working for the clinton foundation in africa, she said following her parent's footsteps is still an option for her. >> i hear my grandmother's voice in my head every day. life is not what happens to you but what you do with what happens to you. i led a private life for a long time. and i'm atemed to leading a purposely public life. >>> and mark zuckerberg is calling for immigration reform. students will be tomorrow's s p entrepreneurs. >>> a water park in texas has found a really inventive way to keep their patrons cool. look at that. they created an ice dump where staff dumped a full ton, 2,000 pounds of ice on to swimmer. >> they are chanting "we want ice reques ice." >> let's take a look. the problems out there this morning is in missouri. we have flash flooding that's in mostly rural sections of missouri
have been the difference in the game. detroit wins 4-2. >>> you know the phrase don't count your chickens before they hatch? here's case in point from the x games. >> will she take the gold medal in los angeles? ohno! pumped her first. she thought she was going to win it and opened the door. >> i mean, first of all the bad form is in so many bay waist. you don't do it on the second to last turn. >> there was a skier in the olympics that did that. >> you do it as you get the checkered flag. >> i feel bad for her, but i don't. you tell your kids, stay humble. >> be happy with "way too early." >> weather around the country is a lot like yesterday. we're dealing with horrible flooding concerns in missouri. these thunderstorms are drenching southern missouri. it's not going to be pretty once the sun comes up. as far as the heat goes, it was 102 yesterday in dallas. this is five days in a row and right through this week into the weekend, easily 100 plus. dallas, you're going to go 10 to 15 days in a row of 100-degree heat. there are some showers and storms around d.c. this morning. onc
? detroit is on a 12-game hot streak, they swept the cleveland indians in four games. next up the tigers, a-rod and the yankees in new york. on to golf, check out this long birdie put on the 16. will it go in? yes it will. miami star lebron james tweeted a cell feed before going to court in ohio to serve jury duty. he wrote, time to do my civic dutiy. >> celebrity surf era moan davara captured the video of a southern white whale and her calf swimming side by side. you don't see that every day. you don't see this every day, they got down and dirty at the fifth annual combine -- drivers take out their old harvesters trying to be the last one standing. that looks kind of dangerous, those are pretty big items there. >> who knew such a thing existed. >> you got to have some kind of fun out there, right? >>> it's time now for our first look at politics and for that we're joined by political reporter kevin surelli in washington. listen, there's been a lot of talk lately about u.s.-russian relations and the fact that the white house couldn't convince russia to -- >> i think it speaks to the russian
's 51 degrees right now in detroit. i mean, it's jacket weather in the great lakes this morning. beautiful afternoon, though, enjoy this. this looks to stay with us right through the weekend. from chicago to minneapolis to new york. a great little stretch. boston will be nice, too, by the way. >> i saw leaves falling. >> that's probably a dead tree. >> they shouldn't be falling this early. >>> coming up at the top of the hour on morning joe we're tra tracking breaking news from egypt. a live report. >>> when we come back here -- the cooler. not sure if it was possible that san diego mayor bob philner may have hit bottom. a city business that is now banning him. we'll be right back. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise.
of change, revving in detroit and super sized shark attack. gentleman rina lewis, let's talk about the job jobs. break them down. >> sluggish at best. 162,000 jobs added. the expectation was 185,000. even whispers of 200,000. so way off. to put it in perspective, at this rate it will take seven more years to make up for the jobs lost in what is now deemed as the great recession. and it gets worse. because even though unemployment is down slightly, it's a bit misleading because participation is down. you've got to remember, every day 10,000 baby boomers retire. what is replacing those jobs, two-thirds of the jobs are part-time largely in the retail sector, which is notorious for low wages. >> a lot of mill lessen kwrals are living at home with their parents. >> a lot of people in the industry are saying selection. these days you can't have a few models you have to have lots of models. there seems to be something about a truck, to borrow a line from a country song. g.m., 16%. ford, 11%. these are sales to consumers, not fleet sales or commercial sales where the margins are lower. >> that is
of when they think of boston politics. >> what other races are you keeping an eye on? >> one is detroit. field ofthis candidates narrowed in a runoff to just two contenders for a job which is very important right now. the election itself may be less important compared to what happens after the election. how much power the mayor will even have when there is an emergency manager with sweeping authority. there is also houston. a democratic mayor is running a republicanerm opponent. she was elected mayor of houston, it became the largest american city with an openly gay mayor. you wouldy necessarily stereotype houston, texas. texas, it is worth keeping an eye on what happens there. if you cover politics and policy in this era of budget -- >> you cover politics and policy. what can mayor is expected from washington regarding infant -- regarding infrastructure, the nuts and bolts. >> you talk to mirrors over the country -- you talk to mi ayors and they are fed up with how little support they get from washington. certainty.ally no stimulusof ways, the that a lot of folks credit with helping gi
and the patriots, on the road in detroit, kind of like what we saw from the ravens. not quite as good. struggled. -- only ninets points scored. matthew stafford, over the middle. check out the final of this one. detroit the tory us, 40-9. overall results mean virtually nothing. now we know. the ravens will be kicking off the regular season in denver. that's going to be a lot of fun. one more check of the forecast coming up after this. grandma, your biscuits are the best! these are from dunkin'. granny! i have a life, you know. oh, that's for me. ooh! dunkin's new chicken biscuit sandwich is a tender breaded chicken filet on a southern-style biscuit. grab one today. america runs on dunkin'. caramel mocha. caramel almond. caramel turtle. [ sighs ] that would've been awkward. th dunkin's caramel iced coffee flavors, there are more ways than ever to love caramel. try the new caramel coconut today. america runs on dunkin'. a couple of showers still have to come through here. the front is still not through. to humidity levels start draw. skies clear tomorrow afternoon. lots of sunshine for the week an
. >>> if detroit didn't have enough problems filing for bankruptcy. politico poise onts out billboa in detroit advertise the wrong date for the city's general election. check it out. they urge citizens to vote september 2nd and it's november 5th. i'll add the #epic fail. by the way, they are expected to be fixed today. from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, . products like optional better car replacement, where if your car is totaled, we give you the money to buy one a model year newer. call... and ask an insurance expert about all our benefits today, like our 24/7 support and service, because at liberty mutual insurance, we believe our customers do their best out there in the world, so we do everything we can to be there for them when they need us. plus, you could save hundreds when you switch, up to $423. call... today. liberty mutual insurance -- responsibility. what's your policy? >>> celebrity chef paula deen is she on a comeback trail? the case was thrown out again
a trove of documents to wikileaks. he could face up to 90 years in prison. >>> a detroit police commander facing disciplinary action after an e-mail containing the bra sizes of some 20 female officers was mistakenly sent department-wide. the woman had provided their weight and height and bra size to be fitted for a bulletproof vest. at least one has filed a grievance. the detroit police plans to meet with the officers to offer a personal apology. the department says the incident was a clerical error, and definitely not a lapse in judgment. >> what you're not seeing is zoraida shaking her arms at the camera here, apparently not convinced about the clerical error. >> oh, my goodness. it would be nice to talk to them, wouldn't it? >> a lot to learn there. >>> a businessman being charged with trying to hire a hitman from el salvado, to murder his wife, his mother-in-law, his brother-in-law and his 9-month-old baby. prosecutors say jason simmons tried to rig his home and wipe out his family after his wife told him she wanted a divorce. it's part of the bulldog equipment that provides tactical
, on the other hand, sam, detroit is resilient. it will bounce back shortly. >> detroit? no. i'm sorry. i'm talking about "the daily show." >> come on. >> jess, where exactly are you? >> i'm in front of paula deen's house, john. >> that's interesting. any developments on that story? >> oh, no. i'm actually just here looking for a job. >> what? >> because let me be clear. i'd much rather work for an old lady who's admitted to throwing the n word around than spend six more minutes working for you. >> wow. >> leave john oliver alone. you've done a heck of a job, buddy, and i'm proud of you. >> oh, rob riggle, thank you so much. have you been watching the show this summer? >> uh. no. >> there are so many things about this summer. but i'll miss you most of all, carlos danger. ♪ danger ♪ danger ♪ get on the floor >> mr. lewis black joins me next. it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the sam
detroit. >> right. >> well, detroit is a great symbol of failure. anyway, thank you, glenn thrush. thanks for giving us the idea for the piece. what he is going took tomorrow about economic inequality, not just racial inequality. >>> up next, bachmann's stand. we're talking about michele bachmann. a new ebook just came out. more trouble for her. her staff is in revolt. even her own people on coming out against her on her way out. this is "hardball," the place for politics. ols... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ [ crisp crunches ] [ rumbling ] [ crisp crunches ] whoo-hoo-hoo! guess it was. [ male announcer ] pringles, bursting
who came to detroit in 2009. this is more -- is more general. i think if anything's changed it's that in the aftermath of the attack on our facility in benghazi and the deaths there of four americans and the continuing ha la ba lu from congress about embassy safety, people just want to err on the side of taking extra precautions. they don't have the same kind of specificity here they've had in other threats. what they have is significant personalities being involved in the threat stream and i think that's why they take it seriously. >> we are living in a post-benghazi world and benghazi drives so much of this. >> exactly. so richard haas, talk a little bit about -- what's the president's for closing -- precedence for closing 22 embassies and this al qaeda resurgence. >> let me start with the latter. people are focusing on the u.s. reaction which i think is appropriate. the bigger story this is the new normal. this is now a middle east where you no longer have countries that are essentially controlled by their governments. it's been the case in pakistan for some time, which is w
, and the underwear bomber in detroit, to place bombs on -- i forget if it was u.p.s. or fedex planes. we took out some of the senior leadership in pakistan and elsewhere. the obsession with drones, i find a little odd in the sense that the question is the war. al qaeda declared war on us in 1996. they vice president chan they haven't changed their mind. we're trying to defend ourselves and go after them. it's not just drones. we, of course, have done what we've done in afghanistan. i mean, would it be better if we were launching cruise missiles at us. they declared war against us, they are threatening us. yes, you know, violence begets violence. but when you have people out there specifically plotting to attack us, i don't think we can sit back and say, well, we don't want to risk making other people mad. al qaeda senior leadership and al qaeda in the arabian peninsula, you know, are actively plotting against us, we need to use the tools that are in our toolbox to disrupt those plots. >> congressman, any thoughts on how long the embassy closures will persist? >> you know, it's hard to say. depend
his weight set and just lifts weights. >> do it alone. >> get out of our way. >> detroit free press, one of the largest -- >> did you see that. >> publicly owned muse seems may be the next victim of detroit's bankruptcy filing. christies will appraise the value of all city-owned items at the detroit institute of art. this is sad. >> it is. >> featuring works from van gogh and deyeahgo rivera. the request came from creditors owed $18 billion. >> the city manager said of detroit, the city manager said they're lazy, stupid -- >> there's a lot of people now accusing everybody and trying to get in the way of the bankruptcy filing. >> the "usa today," last year, 1.35 million kids went to the e for sports-related injuries. a survey says that equates to a hospital visit every 25 seconds. the report estimates those injuries caused more than $900 million last year. >> from our parade of papers "seattle times" prolonged use of high blood pressure medication may lead to an increase risk for breast cancer for older women. in a survey of 2700 women, the rate of breast cancer doubled among those w
anything about detroit, 47% illiteracy rate, didn't do anything about camden, new jersey. south central, send your kid to south central, they could see the hippy commune. how about reality. figured i have money, i can send my kids somewhere safe where they can grow up, won't advocate for other kids having a shot at the same thing. >> i am all for choice. advocate for change, whatever it is. he does agitate me. >> what a washing machine does. >> he can send his kid where he wants, why can't all parents have that option, parents that don't make the money he does on movies. he speaks for teachers, it is hypocritical, but what's worse, he supports leaders and politicians who do not empower choice for parents to pick schools. this is a great opportunity for president obama, charter school, to reach out on education and he hasn't done it. it is another missed opportunity. send your kid to private school, just let other parents be able to do the same. >> greg, president obama did reach out to charter schools. first thing he did, pulled the plug on students in washington, d.c. and matt damon su
to detroit towing a dinghy filled with 1,000 pounds of brick. he's a marathon swimmer called the shark. he finished 21 hours later than expected. he made the swim to raise money for habitat for humanity. >> how sweet. congratulations. >>> a virginia fisherman set a world record after catching a really big frankenfish. he hooked the 17 pound six ounce snake head. all the guys here are riveted by this. you should see the way they are looking at this fish. is this a big deal, guys? >> it's a big fish. it's slimy. >> it can breathe air. he beat the old record by two ounces. 17 pounds, 6 ounce. >> it's big for a frankenfish. >> i don't fish but they are riveted. >> it's the delivery more than anything else. it was compelling. let's see what's coming up on "new day." what's up, guys? >> i think the snake heads are an invading species. in some places they are a problem. they eat and screw up the ecology. i'm in the business of knowing. >> often inaccurately, but this is a topic he knows a ton about. >> in the land of logic, which would be here or this world, a yellow world. we are going to talk a
washington nationals. another streak in cleveland with the detroit tigers looking for their 11th straight win. seventh inning after striking out in his first three at-bats, miguel cabrera gets ahold of one, boy that's a bomb, gives detroit a one-run lead. they went to extras. top of the 14th inning, prince fielder hits a two-run double gives detroit the win, their 11th in a row, up six games on cleveland in the al central. >> cabrera is close to triple crown again. >> he's incredible. >> this is "star wars" night in st. louis. with a bit of a twist. a gangnam style danceoff. >> wow. >> wow. not sure what was going on there. the dodgers, trying to start another streak after their 15-game road winning streak that ended on tuesday, bad news for the cardinals early, carl crawford smokes one off the pitching elbow of shelby millerp. miller left the game. l.a. broke it open in the second. skip schumacher singles in gonzalez and yasiel puig, dodgers win 12-4. the l.a. dodgers up five games in the nl west. usually within a fan crashes a sporting event it's kind of annoying. little amusing as well. re
do you think about all this? whe >> where should he be going? detroit? the fact that he has to be president is punishment for that. people ask like the president is get age way from it all. he's got the i'm out of office auto reply and he shuts off his phone and he's just kicking back drinking a beer. . i'm willing to bet a president on vacation probably works more hours than most people work -- >> i hope not. >> now i don't want him to go on vacation. >> some people have said he could have gone to camp david and it would have cost the tax pair a lot less. >> others have said who cares. >> some voice concern over both. >> for the martha's vineyard house. >> doesn't he stay with friends? but he stays with friends. i've got to go, by the way. we've got to take a break. more stuff when we come back. the joy of hate, amazon.com, autographed copy, best book of the year says my mother. with the spark cash card from capital one... boris earns unlimited rewards for his small business. can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em
to miami to new york city to chicago, illinois to detroit, michigan. and as senseless as this homicide is, those other homicides are just as senseless, and those people were somebody's kid, also. so my heart breaks for this family and what they are experiencing. having prosecuted murder cases, i can tell you that their lives are altered forever. it will never be the same, and the same goes for the defendants, for the men who the young men who have been accused of this crime and i understand are going to face a very serious charge. >> i mean, i've read before i came on air tonight that apparently there have been ten kids age 7 or younger who have been shot in chicago since the end of june. not all killed but all shot, and some of it just so random, just walking upstairs to their home. so that's chicago. we know they have problems there. we have this going on in oklahoma. we have it in every major city. where does it end? in australia they had a massacre in '96 and it changed everything, and the people that drove the change were c conservatives and republicans. what is wrong with america th
. >> bill: just about a minute left. can i ask you one final question, any hope for detroit? >> well, there is going to be hope because look, after you go hit the bottom, you start moving up again. the one thing i'm concerned about is that the pensions of all of these detroit retirees whose average pension is $19,000 a year which doesn't get you very far, is protected. and fortunately, in the constitution of michigan, pension protection is written in there quite plainly. and the rerepublican of the state bill shooty said those pensions cannot be affected. this is a fallout of the wild speculation and wall street, a gambling that has gone on and now they're asking all of us to pay the price. i don't think retirees -- in any place, there are other municipalities that aren't in such great shape. we want to protect those pensions and then start re-organizing. we have an emergency manager and he's a bankruptcy lawyerer. if you're not paranoid, then you won't feel badly about that. but i was worried about that from the beginning. and what did he do during negotiations? he turned around and
, a debt overhang discourages new capital from coming in. if you don't know, think of detroit. would you lend to detroit today? no, you wouldn't because you first want to find out what's going to happen to others who lend to detroit and then to much money and so we had to do with that. then there's the longer-term agenda. it has to do with potential growth. that speaks to education. it speaks to some really microstar that we should be doing and that right now, one of the problems about the fed leaning the center of attention come is it the first discussion away from all these other things. so everybody focus on the fed cup who should be the fed chairperson, et cetera, et cetera. this whole set of other things that needs to be more important for us, answer me for the next generation, that the whole narrative has been shifted away from. >> mohammad, the white house global economics, what types of new projects are you working on, ideas, perhaps for 2014? >> so, you have promoted me. okay, i'm very privileged to be chair of the council on global development. and the notion is very simple. is
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